Capital change notice

Template
Capital Change Notice

Updated as at February 2025

Please do not amend or delete individual rows. As this template relates to prescribed content, changes to content
should only be made where it is clearly indicated that this is permitted, otherwise, if an Issuer considers a particular
element does not apply, mark the row as N/A. Any other changes to this prescribed form must first be approved by
NZX as required under NZX Listing Rule 3.26.1.

Section 1: Issuer information
Name of issuer Bremworth Limited
NZX ticker code BRW
Class of financial product Fully paid up ordinary shares
ISIN (If unknown, check on NZX website) NZCAVE0001S7
Currency New Zealand dollars
Section 2: Capital change details
Number issued/acquired/redeemed 500,000 fully paid up ordinary
shares
Nominal value (if any) Not applicable
Issue/acquisition/redemption price per security $0.65
Nature of the payment (for example, cash or other
consideration)
Cash
Amount paid up (if not in full) $325,000
Percentage of total class of Financial Products
issued/acquired/redeemed/ (calculated on the
number of Financial Products of the Class,
excluding any Treasury Stock, in existence)
1

0.7036%
For an issue of Convertible Financial Products or
Options, the principal terms of Conversion (for
example the Conversion price and Conversion date
and the ranking of the Financial Product in relation
to other Classes of Financial Product) or the Option
(for example, the exercise price and exercise date)
Not applicable
Reason for issue/acquisition/redemption and
specific authority for issue/acquisition/redemption/
(the reason for change must be identified here)
The reason for the acquisition is to
facilitate Greg Smith’s exit as Chief
Executive Officer from Bremworth, as set
out in detail in the Disclosure Document
released to NZX on 28 April 2025.
The specific authority for this is a
Directors’ resolution (dated 23 April 2025)
for the purposes of Listing Rule 4.14.2 and
sections 60 and 61 of the Companies Act
1993.


1
The percentage is to be calculated immediately before the issue, acquisition, redemption or Conversion.

Total number of Financial Products of the Class
after the issue/acquisition/redemption/Conversion
(excluding Treasury Stock) and the total number of
Financial Products of the Class held as Treasury
Stock after the issue/acquisition/redemption.
70,561,519 fully paid up
ordinary shares

Treasury Stock held – Nil
In the case of an acquisition of shares, whether
those shares are to be held as treasury stock
The shares acquired are cancelled and
not held as treasury stock
Specific authority for the issue, acquisition, or
redemption, including a reference to the rule
pursuant to which the issue, acquisition, or
redemption is made
Listing Rule 4.14.1(d)(ii) and 4.14.2, as
well as a Directors' resolution (dated 23
April 2025) for the purposes of sections 60
and 61 of the Companies Act 1993
Terms or details of the issue, acquisition, or
redemption (for example: restrictions, escrow
arrangements)
Total consideration payable for the shares
acquired ($325,000) to be applied towards
the repayment of the amount owing to
Bremworth by Mr Smith ($208,050), with
the balance payable to Mr Smith in cash
($116,950).
Date of issue/acquisition/redemption
2
23 May 2025
Section 3: Disclosure required for Placements made under Rule 4.5.1
[Issuers may opt to release Section 3 information (if not already done so) in a separate announcement within five Business Days of
the issuance. Delete this Section 3 if capital change is not the result of a Placement under Rule 4.5.1]

Details of the approach in identifying investors who
were able to participate in the offer and how their
respective allocations in the offer were determined.

The explanation must set out the key objectives
and criteria the Issuer adopted in the allocation
process, whether one of those objectives was a
best effort to allocate on a pro rata basis to existing
holders of the Issuer’s Equity Securities, and any
significant exceptions or deviations from those
objectives and criteria.
Not applicable
Section 4: Authority for this announcement and contact person
Name of person

authorised to make this
announcement
Victor Tan
Contact person for this announcement Victor Tan
Contact phone number +64 27 668 8963
Contact email address vtan@bremworth.co.nz
Date of release through MAP

26 May 2025




2
Continuous issuers using this form in reliance on Rule 3.13.2, please indicate the period during which the relevant
issue/acquisition/redemptions were made (for example, 1 January 2019 to 31 January 2019).